Austria

Austrian authorities to reinvestigate Kampusch abduction case

Austrians vote in early parliamentary electionsVienna- Austrian authorities said Friday they would soon start a new probe into the abduction and eight years of incarceration of Natascha Kampusch, in order to investigate whether her abductor had accomplices.

The decision came after an independent commission installed by the interior ministry found flaws in the investigations in July.

Output cut expected as OPEC meets on Friday

Output cut expected as OPEC meets on FridayVienna - Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) set to meet Friday in Vienna were expected to cut oil production in reaction to falling prices and slowing demand.

Several of the cartel's 13 members had indicated before the meeting that they were in favour of lowering the group's joint output by at least 1 million barrels per day. One barrel equals 159 litres.

Since mid-October, the basket price of OPEC crude has hovered below 70 dollars per barrel, down from its July high of 140.73 dollars.

Sharp drop in OPEC crude price before Friday cartel meeting

Organization of the Petroleum Exporting CountriesVienna - Two days before the Organization of the Petroleum Exporting Countries (OPEC) was set to meet in Vienna to discuss production cuts, the cartel's basket price fell by 3.53 dollars Wednesday.

Pulled down by falling stock markets and reports of growing stocks and slowing demand in the United States, one barrel (159 litres) of OPEC crude stood at 60.82 dollars at mid-week, compared with 64.35 dollars on the previous day.

Austria to spend 2.9 billion euros to stimulate economic growth

Vienna - The Austrian government decided Wednesday to spend a total of 2.9 billion euros (3.9 billion dollars) on an economic stimulus package focused on medium-sized business and infrastructure projects.

In 2009 and 2010, around 1 billion euros will be allocated each year to an investment fund for medium-sized companies, the government announced. The money will also be used to finance small loans.

Faced with slowing economic growth, politicians "should not discuss, but act fast," Infrastructure and Transport Minister Werner Faymann said after the cabinet meeting where the measure was decided upon.

Government to bail out Austrian Airlines if takeover fails

Vienna - The Austrian government will have to rescue Austrian Airlines AG if the privatisation process fails, Transport Minister Werner Faymann said Wednesday, as he announced that there was one valid bid for the ailing flag carrier.

Neither Faymann nor the government holding OeIAG said whether the German airline Deutsche Lufthansa AG had submitted the offer for the 42.75-per-cent stake in Austrian Airlines that is held by OeIAG.

Although French-Dutch carrier Air France-KLM announced Tuesday their withdrawal from the bidding process, analysts said that OeIAG could decide Monday to give Lufthansa and Air France another month or so for their offers.

Austrian incest father Josef Fritzl says he was "born to rape"

Populist touch and media buoy Social Democrat FaymannVienna - Austrian incest suspect Josef Fritzl has said he was "born to rape," according to a report by a court-appointed psychiatrist who probed the mind of the man who had kept his his daughter locked in a dungeon for 24 years.

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